PHILADELPHIA, July 25, 2013 (GLOBE NEWSWIRE) -- Symphony Health Solutions, a Philadelphia area-based provider of high-value sales and prescription data and analytic solutions for life science manufacturers, today announced it has filed a lawsuit in the United States District Court for the Eastern District of Pennsylvania against IMS Health. The Complaint alleges that IMS Health is actively engaging in anticompetitive activity and abusing its monopoly power in the pharmaceutical data markets. Specifically, the complaint cites anticompetitive business practices that violate the Sherman Antitrust Act and Pennsylvania state law.
"IMS Health has systematically and repeatedly engaged in a broad pattern of behavior with customers, competitors, and suppliers to maintain, extend, and create new monopolies in the markets for pharmaceutical data products," said Frank Lavelle, CEO, Symphony Health Solutions. "We are more than willing to compete head on with any company but want it to be on a level playing field."
According to the Complaint, IMS Health has been engaging in certain business practices such as offering predatory product bundles; entering into exclusive contracts and anticompetitive data procurement practices with data suppliers to block Symphony's access to key market data; and limiting customer access to competitive analytics offerings—all with the intent of raising prices for customers, reducing choices and stifling innovation.
In this marketplace, there are only two viable competitors who offer pharmaceutical data products—Symphony Health Solutions and IMS Health—and IMS has by far the larger share of the market.
"Exclusive data contracts, predatory bundles that leverage market offerings with no comparable alternatives, and restricted market access to competitive solutions by a player with dominant market shares in many key markets are actions that are anticompetitive in a market where data for key sales and marketing decisions are provided by only two companies," continued Lavelle.
The suit alleges that IMS's actions have harmed customers by reducing choice, increasing prices and decreasing innovation. "We simply believe it's in everyone's best interest for the free market to function properly," Lavelle noted. "We have a long term commitment to this industry and we will fight hard to make sure that customers have choice, that they get the best price, that they benefit from a high level of innovation and that all participants benefit from a vibrant, competitive industry."
Symphony Health Solutions provides pharmaceutical data, custom research, consulting services and analytics to help sales and marketing teams in life science manufacturers make and understand key commercial decisions across the full prescription lifecycle, from predictive market analysis to patient influence, physician prescribing, pharmacy fulfillment, payer reimbursement, and sales compensation. The company is focused on delivering a strong value proposition for clients and innovation of the health information market.
For more information, visit the Symphony Health Solutions website at www.symphonyhealth.com.
About Symphony Health Solutions
Symphony Health Solutions enables our clients' success in a dynamic healthcare ecosystem through information, technology, insights and innovative solutions. We help transform their commercial approaches using informed, insightful research and thorough analysis that is accessed via powerful technology. We are focused on helping our customers dramatically improve their performance, productivity, and profitability by delivering answers that create real business advantage. For more information, visit www.symphonyhealth.com.
CONTACT: For media information, please contact: Heather Varela, Symphony Health Solutions email@example.com +1 602.463.7838 Tom Kivett, Kivett & Company Communications firstname.lastname@example.org +1 212.727.2935Source: Symphony Health Solutions